DISQUALIFICATION OF PLAN OR CONTRACT Sample Clauses

DISQUALIFICATION OF PLAN OR CONTRACT. If the Plan no longer meets all of the requirements of Section 457(b) of the Code, the Employer will notify us in writing. In that event, at the Employer's option, (i) we will terminate the Plan's participation under this Contract and pay the amounts held in the Investment Options with respect to the Plan, or (ii) we will transfer the amounts held in the Investment Options to another contract agreed to by both the Employer and us.
Sample 1Sample 2
AutoNDA by SimpleDocs
DISQUALIFICATION OF PLAN OR CONTRACT. In the event that the Plan fails to qualify as an Eligible Deferred Compensation Plan under Section 457 of the Code and applicable Treasury Regulations, we reserve the right, upon receiving notice of such fact, to transfer the Annuity Account Value under this Contract to another annuity contract issued by us or one of our affiliated or subsidiary life insurance companies on the life of the Annuitant, or to terminate this Contract and pay to you the Annuity Account Value less a deduction for applicable taxes, solely at our option. In the event that this Contract fails to qualify as an Xxxxxxx as described in Section 1.02, we will have the right, upon receiving notice of such fact, to terminate this Contract and pay to you the Annuity Account Value less a deduction for the appropriate part attributable to you of any income tax payable by you which would not have been payable if you had an Annuity.
Sample 1
DISQUALIFICATION OF PLAN OR CONTRACT. In the event that the Plan fails to qualify under Section 403(b) of the Code and applicable Treasury Regulations, we reserve the right, upon receiving notice of such fact, to transfer the Annuity Account Value under this Contract to another annuity contract issued by us or one of our affiliated or subsidiary life insurance companies on the life of the Participant, or to terminate this Contract and pay to the Participant the Annuity Account Value less a deduction for applicable taxes, solely at our option. In the event that this Contract fails to qualify as an Annuity, we will have the right, upon receiving notice of such fact, to terminate this Contract and pay to the Participant the Annuity Account Value.
Sample 1
DISQUALIFICATION OF PLAN OR CONTRACT. In the event that the Plan fails to qualify as a Plan under Section 403(b) of the Code and applicable Treasury Regulations, we reserve the right, upon receiving notice of such fact, to transfer the Annuity Account Value under this Contract to another annuity contract issued by us, an affiliate subsidiary, on your life, or to terminate this Contract and pay to you the Annuity Account Value less deduction for applicable taxes, solely at our option.
Sample 1
DISQUALIFICATION OF PLAN OR CONTRACT. In the event that the Plan fails to qualify as an Eligible Deferred Compensation Plan under Section 457 of the Code and applicable Treasury Regulations, we reserve the right, upon receiving notice of such fact, to transfer the Annuity Account Value under this Contract to another annuity contract issued by us or one of our affiliated or subsidiary life insurance companies on the life of the Annuitant, or to terminate this Contract and pay to you the Annuity Account Value less a deduction for applicable taxes, solely at our option. In the event that this Contract fails to qualify as an Annuity as descrxxxx xx Section 1.02, we will have the right, upon receiving notice of such fact, to terminate this Contract and pay to you the Annuity Account Value less a deduction for the appropriate part attributable to you of any income tax payable by you which would not have been payable had this Contract qualified as an Annuity.
Sample 1

Related to DISQUALIFICATION OF PLAN OR CONTRACT

  • Disqualification of S-1 Until the earlier of seven years from the date hereof or until the Warrants have either expired and are no longer exercisable or have all been exercised, the Company will not take any action or actions that prevent or disqualify the Company’s use of Form S-1 (or other appropriate form) for the registration of the shares of Common Stock issuable upon exercise of the Warrants under the Act.

  • Notice of Disqualification Events The Company will notify the Purchasers in writing, prior to the Closing Date of (i) any Disqualification Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, reasonably be expected to become a Disqualification Event relating to any Issuer Covered Person, in each case of which it is aware.

  • Administration of Plan The Plan is administered by a Committee appointed by the Company's Board of Directors. The Committee has the authority to construe and interpret the Plan, to make rules of general application relating to the Plan, to amend outstanding options, and to require of any person exercising this option, at the time of such exercise, the execution of any paper or the making of any representation or the giving of any commitment that the Committee shall, in its discretion, deem necessary or advisable by reason of the securities laws of the United States or any State, or the execution of any paper or the payment of any sum of money in respect of taxes or the undertaking to pay or have paid any such sum that the Committee shall in its discretion, deem necessary by reason of the Internal Revenue Code or any rule or regulation thereunder, or by reason of the tax laws of any State.

  • Administration of Agreement 35 31. Severability.............................................................36 32.

  • Eligibility; Disqualification There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $100.0 million as set forth in its most recent published annual report of condition. This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee is subject to TIA § 310(b).

  • Disqualification The Adviser shall immediately notify the Trustees of the occurrence of any event which would disqualify the Adviser from serving as an investment adviser of an investment company pursuant to Section 9 of the 1940 Act or any other applicable statute or regulation.

  • No Disqualification Events With respect to the Securities to be offered and sold hereunder in reliance on Rule 506 under the Securities Act, none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person” and, together, “Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to the Purchasers a copy of any disclosures provided thereunder.

  • Disqualification of Form S-1 For a period equal to seven (7) years from the date hereof, the Company will not take any action or actions which may prevent or disqualify the Company’s use of Form S-1 (or other appropriate form) for the registration of the Warrants under the Act.

  • Termination of Plan The Sponsor may terminate the Plan and the Trust with respect to all Employers by executing and delivering to the Committee and the Trustee, a notice of termination, specifying the date of termination.

  • Disqualification; Conflicting Interests If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act.

Time is Money Join Law Insider Premium to draft better contracts faster.